No brand is immune to crisis Will you be ready?
What is this? This PowerPoint is an introduction to my new book called Brand Turnaround . The book is published by McGraw-Hill and will be out in late 2011. This PowerPoint is also part of a test to see if a 25-point social media blitz can produce meaningful results for a business. For more on the study visit my blog: www.brandingdiva.com/blog (Sept 4, 2011)
Part 1 - New brands are created each day. Many will make it, many will not. And many will face unexpected challenges that result in brand breakdowns.
Should your brand go bad from
A product recall
A major market shift
Or some really bad luck
You can turn your brand around
and get back to business.
Still, sometime this just isn ’t enough to prevent your brand from crumbling when catastrophe arises. With the right knowledge, tools and preparation, you can better equip yourself to recover from that evil, intimidating beast – the unforeseen brand shakeup. Whether commercial, individual, cause or nonprofit, or destination, well-regarded brands reap benefits including customer loyalty, trust, backing by eager ambassadors, a protective shield and countless opportunities.
The key point here is that no brand is immune to a breakdown. No matter how strong or popular your brand, always be prepared for the worst. It can happen without warning, and have catastrophic results. Like any type of beast, a brand shakeup rears its ugly head in many forms. They could be the result of accidents, product recalls, scandals, dramatic market shifts, poor judgment, bad behavior or bad luck, among other things.
Despite the trigger or severity of the shakeup, some brands come out fighting—and make complete turnarounds, sometimes even becoming stronger than they ever were. The first step in combating a shakeup is to be prepared. Brands undergoing hard times move through five phases: Brand-shaking Event — market shift created by internal or external circumstances. Market Reaction and the Brand ’s Reply — public suddenly has negative view of your brand and you lose ambassadors; press management and a spokesperson are crucial here.
By-products and Other Hazards That May Follow a Troubled Brand — public media and negative sentiment can grow and brand equity could be lost. Road to Recovery — start to heal when another, more damaging event, enters the news cycle or when your good planning results in execution of recovery strategies and tactics. Return to Glory — maintain progress and respond to new challenges. Familiarize yourself with this cycle and create a plan for how you will deal with each step. Simultaneously, make an effort to rebuild connections and relationships with core markets. Beyond this, know your brand essence —solidify your purpose, distinction, promise and personality.
This article is an excerpt from Karen Post ’s latest book Brand Turnaround (McGraw-Hill 2011). For part 1 & 2 and other related articles, go to http://brandingdiva.com/brand-makeovers/ About the author Known by many as the Brand Diva ® , Karen Post is an international branding/marketing consultant and professional speaker. She helps individuals; businesses and nonprofits succeed with powerful, distinct brands. Karen has written two books: Brand Turnaround: How Brands Gone Bad Returned to Glory... and the 7 Game Changers that Made the Difference (available late 2011) and Brain Tattoos: Creating Unique Brands That Stick in Your Customers ’ Minds . For more info on Karen and branding matters visit her site at www.brandingdiva.com and her blog www.brandingdiva.com/blog .